Highlights of Kevin Ollie’s New Contract With UConn …

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Below is a summary of Kevin Ollie’s new five-year, $16 million contract with UConn, as sent out by the school Thursday afternoon. The full document is quite long, of course. Lot of interesting things here, but note the buyout terms. Ollie would have to pay $5 million if he left in 2014-14, then $4 million, then it goes to $1 million.

Here it is:

CONTRACT PERIOD: The term of the contract is June 1, 2014 through May 31, 2019.

SALARY/SPEAKING AND MEDIA APPEARANCES: The contract calls for an annual base salary, as well as, annual payments for institutional speaking and media appearances.

The following is a year-by-year summary of those payments:

Period Base Salary Speaking and Media Fees Total

June 1, 2014-May 31, 2015 $400,000 $2,400,000 $2,800,000

June 1, 2015-May 31, 2016 $400,000 $2,500,000 $2,900,000

June 1, 2016-May 31, 2017 $400,000 $2,600,000 $3,000,000

June 1, 2017-May 31, 2018 $400,000 $2,700,000 $3,100,000

June 1, 2018-May 31, 2019 $400,000 $2,800,000 $3,200,000

NOTE: No General Fund (state tax dollars) or tuition monies were used to provide any of the resources for this contract. The Division of Athletics at the University of Connecticut is an Auxiliary Service Fund entity and the sources of revenue include: gate receipts, private fundraising, corporate partnerships, television/radio rights, conference revenues and NCAA revenues.

AUTOMOBILE ALLOWANCE: The Coach will receive an annual car allowance in the amount of $15,000 to be paid on a bi-weekly basis.

SUMMER CAMPS/CLINICS: The Coach may organize and direct basketball camps or clinics utilizing University dormitories, dining halls, athletics facilities and other campus facilities, at the rates and fees published by the University’s Conference Services Office. Coach Ollie may also organize and direct basketball camps or clinics located off the University’s campus. All camps and clinics run by the Coach shall be owned and operated by the Coach.

ENDORSEMENT CONTRACTS: Any consulting, endorsement or outside income activity performed by the Coach shall be consistent with the University consulting policy. Personal endorsement agreement must be consistent with the University’s agreement with IMG and compliant with all University policies and all Connecticut state statutes.

TICKETS: The University will provide the Coach with twenty (20) tickets for personal use and purchase privileges for up to ten (10) additional tickets for all home, away, conference tournament and post-season men’s basketball events while serving as Head Men’s Basketball Coach. The University will provide the Coach with twenty (20) tickets in a suite and five (5) parking passes for personal use for all home football games at Rentschler Field while serving as Head Men’s Basketball Coach. The Coach will be responsible for all costs associated with food and beverage service in the suite and no such costs shall be regarded as subject to reimbursement. Also, the Coach will be entitled to receive four (4) tickets for all other UConn home athletic events.

COUNTRY CLUB: The University shall pay the current fee categories for an annual family membership at a country club approved by the athletic director.

COMPENSATION FOR SERVICES AND PERFORMANCE: The Coach will receive one month of base salary for winning a conference regular season championship; one month of base salary for winning a conference post-season tournament championship; one month of base salary for participation in the NCAA tournament; one month of base salary for participation in the NCAA Sweet 16; one month of base salary for participation in the NCAA Elite Eight; one month of base salary for participation the NCAA Final Four; three month of base salary for winning the NCAA national championship; one-half month of base salary for winning a conference and/or national coach of the year award; a $5,000 payment for each academic semester with a team grade point average of 2.8 or above; a $10,000 payment for each year with an APR score of 930 or above.

BUYOUT: If the Coach accepts a position as a Head Coach of men’s basketball at an NCAA Division I institution, the following will be due to the University from the Coach: $5,000,000 in 2014-15; $4,000,000 in 2015-16; $3,000,000 in 2016-17; $2,000,000 in 2017-18 and 2018-19. If the Coach accepts a position as a Head Coach or Assistant Coach in the NBA, the following will be due to the University from the Coach: $5,000,000 in 2014-15; $4,000,000 in 2015-16; $1,000,000 in 2016-17, 2017-18 and 2018-19.

 

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